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Crwe World | Moneta Intercepts 1.75 m @ 9.07 g/t Gold and 1.65 m @ 7.95 g/t Gold From Extensions at South West Deposit

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Moneta Intercepts 1.75 m @ 9.07 g/t Gold and 1.65 m @ 7.95 g/t Gold From Extensions at South West Deposit

[26-June-2019]

Symbol: TSX: ME

TORONTO, June 26, 2019 /CNW/ - Moneta Porcupine Mines Inc. (TSX:ME) (OTC:MPUCF) (XETRA:MOP) ("Moneta" or the "Company") is pleased to announce the results from two diamond drill holes on the 2019 winter drill program. The holes were completed on the South West Deposit ("South West") located within the Company's Golden Highway Project, 110 km east of Timmins, Ontario, (see Figure 1).

Moneta Porcupine Mines Inc. (CNW Group/Moneta Porcupine Mines Inc.)

Highlights:

Drill hole MGH19-113 intersected the extensions of the targeted Gap veins south of and at depth below the current resource at South West. MGH19-117 intersected the veins at depth below the updated resource.

MGH19-113

· Walnut Vein

Drill hole MGH19-113 intersected 3.75 metres ("m") @ 3.10 grams per tonne gold ("g/t Au") including 1.90 m @ 5.79 g/t Au including 0.90m @ 10.60 g/t Au, and 2.65 g/t Au @ 6.73 g/t Au including 1.75 m @ g/t expanding the width and grade of this vein



· Willow Vein

Drill hole MGH19-113 intersected 2.65 m @ 2.24 g/t Au, including 0.80 m @ 5.84 g/t Au extending this vein by 50 m to the south



· Sycamore Vein

Drill hole MGH19-113 intersected 1.65 m @ 7.95 g/t Au including 0.80 m @ 9.37 g/t Au extending the new Sycamore vein by 100 m to the south and 120 m to depth



MGH19-117

· Yew Vein

Drill hole MGH19-117 intersected 1.00 m @ 5.49 g/t Au and 4.00 m @ 2.17 g/t Au including 1.03 m @ 3.90 g/t Au upgrading the grade and width of this vein



· Gap-2 Vein

Drill hole MGH19-117 intersected 2.40 m @ 3.04 g/t Au including 0.70 m @ 8.04 g/t Au extending this vein 100 m to the south



· New Vein

Drill hole MGH19-117 intersected 3.00 m @ 2.57 g/t Au including 1.00 m @ 5.41 g/t Au from a new a new vein



Gary O'Connor, CEO & Chief Geologist commented, "We are encouraged by the ongoing success of the 2019 winter drill program which has continued to intersect the strike and depth extensions of the Gap series of veins at South West beyond the current resource adding up to 200 m strike length to the south and over 300 m depth extent. We are also pleased to have again intersected the depth and southern strike extensions of the new Sycamore vein. The drill program has intercepted many of the veins included in the current resource at South West upgrading the grade and width of veins and confirming the location and continuity. These intercepts will upgrade the confidence of the resource and potentially increase overall grade. The ongoing drill program is designed to continue to test the extensions of the Gap veins and the West Block area veins which were not included in the recent resource estimate update. The drill program is continuing to be successful at drilling the extensions of the resource."

The latest assay results are from the next two drill holes, MGH19-113 and MGH19-117, totalling 1,714.50 m of drilling completed at the South West deposit to test the southern and depth extensions of the Gap veins. The drill holes also infilled the eastern vein structures of the South West deposit upgrading and extending the resource and confirming vein locations, thicknesses and grade. The program has again confirmed the new vein Sycamore.

Table 1: South West: Selected Significant Drill Results

http://crweworld.com/article/news-provided-by-pr-newswire/1145668/moneta-intercepts-175-m-907-gt-gold-and-165-m-795-gt-gold-from-extensions-at-south-west-deposit

God Bless